Business

The Indian rupee slipped 7 paise to 88.80 against the US dollar on Wednesday amid US tariffs and H-1B visa fee hike concerns, coupled with persistent foreign fund outflows. Sensex and Nifty also opened lower, reflecting investor risk aversion.

Sensex and Nifty opened lower on Wednesday amid foreign fund outflows and concerns over the US H-1B visa fee hike. Major laggards included Tech Mahindra and ICICI Bank, while Brent crude rose 0.28% and Asian markets were mixed.

Rising tariffs, stagnant productivity, and AI disruptions demand a Commission for Productivity and Employment Growth

While the sweeping reduction of GST rates is a welcome move, the Centre must also address the legitimate concerns of the States over the potential revenue losses

ICICI Bank will implement same-day cheque clearance from October 4, aligning with RBI’s new settlement framework. Customers depositing cheques at branches will see faster processing, with Positive Pay mandatory for high-value cheques to prevent fraud and ensure smooth dispute resolution

Japanese lender SMBC has acquired an additional 4.22 per cent stake in Yes Bank, raising its holding to 24.22 per cent and becoming the largest shareholder. The move coincides with fresh AA- ratings for Yes Bank, signalling stronger governance, capital position, and performance

The Centre is monitoring whether e-commerce platforms are passing on GST rate cut benefits on FMCG items. Field officers will submit the first report by September 30. The revised GST structure is expected to lower prices for 99 per cent of daily-use goods

TRAI on Tuesday released a draft amendment to reshape broadcasting and cable distribution norms, proposing new audit cycles, stricter compliance, and transparency measures. Public comments are invited by October 6, with the rules set to take effect from April 2026.

Andhra Pradesh CM N Chandrababu Naidu on Monday announced a month-long awareness campaign to educate people about the benefits of GST 2.0 reforms. The state will hold 65,000 meetings till Diwali, highlighting tax cuts and economic gains for households and MSMEs.

The RBI has cancelled the certificate of registration of Datta Finance and Trading Pvt Ltd for violating guidelines on outsourcing core functions in digital lending. The company will no longer operate as an NBFC following irregular lending practices

After SEBI dismissed Hindenburg’s allegations, Gautam Adani said the group will focus on innovation, transparency, and long-term growth. Operational resilience during scrutiny strengthened the company, which now aims to build a lasting legacy across energy, infrastructure, and logistics

Jio Payments Bank has launched 'Savings Pro', allowing account holders to earn up to 6.5 per cent interest on idle funds. Surplus balances above Rs 5,000 will be invested in overnight mutual funds, offering flexible redemption, transparency, and a fully digital process via the JioFinance app

Uttar Pradesh CM Yogi Adityanath praised GST 2.0 reforms in Gorakhpur, calling them a catalyst for growth. He said reduced rates will benefit farmers, students, and consumers, boosting markets and festive celebrations.

India’s next-generation GST, “GST Bachat Utsav,” was implemented, cutting taxes on over 370 items, including essentials, medicines, appliances, and toiletries. Luxury and sin goods face higher levies. The reform aims to boost consumer disposable income and inject Rs 2 lakh crore into the economy.

The rupee slipped to 88.21 against the US dollar amid US H-1B visa fee hikes impacting IT stocks. Domestic equities opened lower, while forex reserves rose, Brent crude climbed, and PM Modi highlighted GST reforms to boost India's growth.

Sensex and Nifty opened lower on Monday, dragged by IT stocks after US President Trump raised H-1B visa fees to USD 100,000 for new applicants. Domestic consumption sectors gained, while Asian markets showed mixed performance amid global cues.

Andhra Pradesh Deputy CM Pawan Kalyan welcomed the rollout of GST 2.0, calling it an auspicious day for the Indian economy. Leaders highlighted the reforms’ benefits for farmers, MSMEs, local manufacturing, consumers, and the aviation sector, boosting India’s growth trajectory.

Companies must move from 'Culture Fit' to 'Culture Add' ie, recruit for growth and not for harmony

The arbitrary and unreasonable hike in the visa fee to $1,00,000 would significantly impact the technology sector, which depends heavily on skilled workers from India and China

Alibag has become the first town in Maharashtra to receive licensed bike rental services after the state revived its Rent A Motorcycle Scheme. Two operators have been granted permits, enabling tourists to legally rent scooters and motorcycles for local travel

India's NTPC plans to acquire overseas uranium assets to fuel its upcoming nuclear power projects. Through joint ventures and individual efforts, NTPC is expanding into nuclear energy to support India's clean energy goals and reduce dependence on fossil fuels

Gold prices ended slightly higher this week with positive bias amid safe haven demand. Analysts expect prices to trade between Rs 1,07,500 and Rs 1,11,000, with focus on upcoming US economic data

Amul announces a price reduction on over 700 products, including milk, butter, ghee, and cheese, starting September 22, in line with GST rate rationalisation to pass on benefits to consumers

Meta, Amazon, and other tech giants have advised H-1B and H-4 visa holders to remain in the US or return immediately as the USD 100,000 visa fee takes effect September 21, raising concerns over skilled foreign workers stranded abroad.